These 3 ASX shares have rocketed this year: Are there more gains to come?

The Aristocrat Leisure Limited (ASX:ALL) share price is one of three rocketing higher this year. Are there more gains to come?

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The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) may only be up a paltry 3% this year, but that hasn't stopped a number of shares on the market from going gangbusters.

Three which have caught my eye are listed below. Can they keep climbing from here?

The Aristocrat Leisure Limited (ASX: ALL) share price has increased 49% so far this year. Investors have been fighting to get hold of the gaming solutions company's shares since the end of February when the company provided its full-year earnings guidance. After a strong start to the year, management is confident that full-year profit will grow in the range of 20% to 30% compared to the prior corresponding period. Whilst I think it could be a great buy and hold investment, I feel its shares are fully valued now so the near-term upside potential may be limited.

The Costa Group Holdings Ltd (ASX: CGC) share price is up 40% year-to-date. In February Australia's leading grower, packer, and marketer of fresh fruit and vegetables announced its first-half results. Strong demand and favourable pricing were behind the impressive growth. These factors and the Avocado Ridge acquisition led management to upgrade its full-year profit growth guidance from 15% to 25%. Whilst I am a big fan of the company, at 31x trailing earnings I think its shares are starting to look a little expensive.

The Qantas Airways Limited (ASX: QAN) share price has gained an incredible 63% year-to-date. Low oil prices, cost savings, and bullish broker reports have largely been the reason the airline's shares have soared this year. Despite its sizeable gain, I still see a lot of value in its shares today. Just as long as oil prices remain favourable. Thanks to rising oil production in the United States, I think this will be the case for some time.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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